Mar 2021
Author(s): Fuentes, J. Rodrigo;Schmidt-Hebbel, Klaus;Soto, Raimundo
This paper reviews the design and operation of the Chilean fiscal rule in the past 30 years. Using different empirical approaches, we assess its impact on fiscal procyclicality, public debt, and…
Nov 2019
Author(s): Musacchio, Aldo;Pineda, Emilio;Huber, John;Jara, Mauricio;Kim, Hyungon;Ter-Minassian, Teresa;Wagner, Rodrigo
The situation of state-owned enterprises (SOEs) in Latin America and the Caribbean continues to be dire. This book uses an original database of SOE performance that shows that every year about one-…
Dec 2018
Author(s): Demaestri, Edgardo C.;Moskovits, Cynthia;Chiara, Jimena
This paper discusses the main issues concerning sovereign fiscal and financial risks from public–private partnerships (PPPs) with a focus on contingent liabilities (CLs). It is based on the…
Aug 2018
Author(s): Panadeiros, Monica;Pessino, Carola
El envejecimiento poblacional que caracterizará la evolución demográfica de los países latinoamericanos en las próximas décadas es probable que vaya acompañado de presiones para incrementar el gasto…
Nov 2015
Author(s): Serebrisky, Tomás;Suárez-Alemán, Ancor;Margot, Diego;Ramirez, Maria Cecilia
Much attention has been devoted to how much infrastructure investment LAC needs. Less attention has been devoted to where that investment comes from. This report examines how much LAC invests in…
Nov 2015
Author(s): Serebrisky, Tomás;Suárez-Alemán, Ancor;Margot, Diego;Ramirez, Maria Cecilia
Durante las últimas décadas se ha prestado especial atención a cuánto es necesario invertir en infraestructura en América Latina y el Caribe (ALC). Sin embargo, no ha ocurrido lo mismo en relación al…
Nov 2015
Author(s): Libertun de Duren, Nora Ruth;Guerrero Compeán, Roberto
This paper finds that per capita municipal spending on public services is strongly and non-linearly correlated to urban population density. Optimal expenditure levels for municipal services are…
Jul 2015
Author(s): García-Cicco, Javier;Kawamura, Enrique
This paper evaluates from a welfare perspective three policy alternatives for dealing with Dutch disease problems originating from cyclical movements in commodity prices: fiscal rules for government…
Apr 2015
Author(s): Espino, Emilio;González Rozada, Martín
This paper explores the qualitative and quantitative implications of taxation for growth and savings in three Latin American countries: Brazil, Chile and Mexico, studying a small open economy in the…
Oct 2013
Author(s): Bosch, Mariano;Melguizo, Ángel;Pagés, Carmen
The Latin America and Caribbean (LAC) region has reduced its inequality and poverty, and is looking towards the future with greater optimism than in the past. As the region grows, new problems appear…
Oct 2013
Author(s): Bosch, Mariano;Melguizo, Ángel;Pagés, Carmen
América Latina y el Caribe (ALC) ha reducido su desigualdad y su pobreza, y enfrenta las próximas décadas con mayor optimismo que en el pasado. Conforme la región crece, aparecen nuevos problemas a…
Oct 2013
Author(s): Bosch, Mariano;Melguizo, Ángel;Pagés, Carmen
América Latina e Caribe (ALC) reduziram sua desigualdade e sua pobreza e enfrentarão as próximas décadas com maior otimismo do que no passado. Conforme a região cresce, aparecem novos problemas que…
Sep 2013
Author(s): Espino, Emilio;González Rozada, Martín
This paper explores the qualitative and quantitative implications of optimal taxation in a developing economy when economic growth is endogenously determined. We differentiate this class of economies…
Aug 2013
Author(s): Canavire-Bacarreza, Gustavo;Martínez-Vázquez, Jorge;Vulovic, Violeta
Tax policy is among the most common and relevant instruments in the toolkit of policy-makers when thinking about promoting growth, yet there is not compelling evidence regarding its effect in Latin…
Jul 2013
Author(s): Borensztein, Eduardo;Piedrabuena, Bernardita;Ossowski, Rolando;Mercer-Blackman, Valerie;Miller, Sebastián J.
El manejo adecuado de los ingresos fiscales por Recursos Naturales No Renovables (RNNR) busca cumplir tres objetivos: evitar la desestabilización macroeconómica, redistribuir equitativamente la…
Jul 2013
Author(s): Marcel, Mario
This paper describes the adoption and application of the structural fiscal balance rule in Chile, evaluates its outcomes after the first 10 years, and draws 10 lessons from the experiences that may…
Nov 2012
Author(s): Navajas, Fernando;Panadeiros, Monica;Natale, Oscar
This paper models an energy tax reform process out of a status quo and towards environmentally related excises, distinguishing between uniform and non-uniform tax components, positive and normative…
Oct 2012
Author(s): Borensztein, Eduardo;Castilleja Vargas, Liliana;Hernaiz, Daniel;Rasteletti, Alejandro
This document analyzes the patterns of fiscal and monetary policy in five economies of the Latin American Southern Cone (Argentina, Brazil, Chile, Paraguay and Uruguay) during four episodes of…
Jul 2012
Author(s): Marcel, Mario;Cabezas, Mabel;Piedrabuena, Bernardita
El presente resumen de políticas realiza una revisión sistemática de la metodología de estimación del Balance Estructural (BE) en Chile. Esta revisión no sólo recapitula y evalúa la justificación de…
Jun 2012
Author(s): Gazmuri Mujica, Jaime
En este trabajo se analizan las condiciones políticas y técnicas que han permitido u obstaculizado el desarrollo de oficinas técnicas de apoyo presupuestario en los parlamentos de seis países de la…